Sieva Kozinsky reveals how anyone can buy their first business and quickly grow it to a $500,000 income… but does the plan make sense? Well, it’s hard to know. 10,500 people seem to like the advice. I’m getting old, so I’ve seen many deals and have some experience. Let me show you how I deconstruct this advice and see if it really plays out the way the author says. You may be surprised to learn that things on the Internet are not always what they seem. I explore the nitty-gritty of this advice a...
Jun 01, 2022•56 min
Do you want to exit your business and still earn income? Why is documenting systems the key to making a business sellable? Why should you consider your business as an asset and not a life role? In this podcast episode, I speak with, Ron and Lexie Lee about how to build a sellable business.
May 26, 2022•29 min
Chris sent me an email asking about whether fast-growing companies were extra-risky? Well, it depends on where the growth comes from. But, there is another risk in buying a fast-growing company. The risk that if the deal doesn’t close quickly, the seller will second-guess the price and/or other factors. I get deep into the ‘it depends’ weeds on this week’s video…: https://youtu.be/9tSTgnUiReg Learn how to buy an already-successful and profitable business even in the covid-recession https://www.B...
May 25, 2022•18 min
I suggested a few weeks ago that a reason NOT to buy a business was because you could make as much or more money by NOT being the owner. Let me explain… This week I’ll explain 4 different ways that non-owners can make more money, potentially, than business owners from a business. While the other benefits of freedom, control, etc may not be there for some of these strategies, they also don’t usually involve any investment risk. Please comment on YouTube if you’ve seen some of these strategies in ...
May 18, 2022•19 min
I respond to some YouTubers who say that you need to have a cutthroat mindset to make it in business. I disagree. I think this attitude will sink your long-term prospects in business. Except, if you operate under some specific circumstance. Instead, I give you my thoughts on the kind of attitude that pays off in business. Check it out in this week’s video: https://youtu.be/3dv8PC8aEVo Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessB...
May 11, 2022•15 min
New Livestream guest🡪 Cato Pastoll, Co-founder & CEO of Loop Inc. I’m happy to have Cato join me on a live broadcast. Cato helped to found Lending Loop, a Canadian small business loan crowdfunding site in 2014. Tune in and as we’ll be discussing how the pandemic has affected investors loans to small businesses on the platform -AND- we’re also going to discuss Loop’s new multi-currency business account systems that help businesses avoid the friction of borders and currencies. This is a ‘must see...
May 09, 2022•47 min
Dave asks me via email if seasonal businesses sell for more or less and if the timing of the transaction is important. They can sell for a different price, but it may surprise you how and why. And Yes, people do usually want to buy them in the off season. The terms as well can be interesting. Learn more in this week’s video: https://youtu.be/iGukyXIzSXQ Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call wi...
May 04, 2022•11 min
I appear as a guest and discuss making waves with mindset. Pay attention to the discussion at the end about 'putting yourself in the path of opportunity.' ------------------------------- Find full show notes here: https://www.buzzsprout.com/1812446/10426476
May 03, 2022•1 hr 10 min
Brian says I inspired him to get started to buy a business. Was I pumping SME ownership too hard? Of course, I start out with one about being lazy. But there are many more problems that I’ve seen over the years. Egos can be a problem, but so can altruism and trying to save the world. Learn more in this week’s video: https://youtu.be/LXwH2evmork Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call with me at ...
Apr 27, 2022•19 min
Why is it important to understand how people were duped by these online content creators who appeared to offer a great deal. Find the news story here: https://www.cbc.ca/news/canada/saskatoon/epic-company-collapses-real-estate-500-homes-1.6399770 While this article is about real estate, it is important to understand for anyone who consumes online small business content. The parallels are striking and there are operators just like this in the world of small business online. Learn to spot the sign...
Apr 20, 2022•20 min
New Livestream guest Lisa Forrest, Director of Seachfund Lending at Live Oak Bank. Find Lisa online at [email protected] I’m happy to have Lisa Forrest join me on a live broadcast. Lisa has over 30 years of experience writing loans under the US Small Business Administration’s (SBA) loan programs. Tune in and as we’ll be discussing some of the misunderstood features of these loans and answering some viewer questions that have been submitted over the last two weeks. This is a ‘must see ev...
Apr 18, 2022•55 min
Azul says that when he adds the Enterprise Value to the Retained Earnings the price seems too high. But David, you ask, if there is a bunch of money and other assets in the company that Azul is buying, shouldn’t the seller get paid for that? Yes, if there truly is an excess. It all comes down to normalizing the balance sheet which is something very few people in the small business space know anything about. You see, what we really need to know is what the Normal Net Position in Working Capital s...
Apr 13, 2022•15 min
Monday at 5pm Eastern time, The Franchise Guide- Giuseppe Grammatico joins me for a live discussion about what has changed since the lockdowns. What new types of franchises are coming out? Who is struggling to make it? What have franchisors done to make a difference? I’ll share some of the interesting things I’ve seen in franchised businesses lately and see Giuseppe thinks. Find Giuseppe online at https://www.ggthefranchiseguide.com
Apr 11, 2022•53 min
Sam has a business in the UK which handles a lot of cash. Should he launder it? I’ve seen a lot of ‘shenanigans’ with cash in businesses over the years. Should business owners declare all this cash as income? Should they steal it away to buy new sneakers? Should they learn how to do ‘money-laundering?’ What does this kind of behaviour do to the value of their business and the terms of sale? Learn more in this week’s video: https://youtu.be/o_fvGBBTxBA Learn how to buy an already-successful and p...
Apr 06, 2022•14 min
Link made a comment that brokers hinder rapport building. Is it true? Rapport and trust building is necessary for a deal to be formed. Do business brokers hinder this? Or- does it matter who you’re dealing with? Is it better to only look at non-brokered deals? I handle this and more on this week’s video: https://youtu.be/8cugZCg1Cqc Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call with me at https://www....
Mar 30, 2022•10 min
Hassan and Papi Shampoo want to know about how business deals are closed. What happens for the ‘closing’ of the deal? Do we need a lawyer? Where does the money go and how does it move? Who are the other players at closing and how does it change from one place to another? Great questions. This week we learn all about the process of closing on a business we’re buying whether we’re using a lawyer or not. Learn more in this week’s video: https://youtu.be/CSTyykXMiGc Learn how to buy an already-succe...
Mar 23, 2022•12 min
Learn about different deal structures at https://www.BusinessBuyerAdvantage.com Learn about selling a business at https://www.HowToSellMyOwnBusiness.com Learn more and join my email list at https://www.DavidCBarnett.com YouTube viewer BehindTheLast wants me to discuss royalties just like Mr. Wonderful. Kevin O’Leary loves royalties on Shark Tank. Can this method be applied in the purchase of a small business? Great question. This kind of tool has its ups and downs. Use it when you both disagree ...
Mar 15, 2022•11 min
Visit the podcast homepage here: https://ggthefranchiseguide.com/podcast/self-reflection-analysis-about-what-knowledge-and-skills-can-be-leveraged-when-getting-into-business-ownership/ Orignial Notes: Join your host Giuseppe Grammatico with his guest, David Barnett. In this episode, David analyzes skills and experiences to discover what areas, industries, or types of businesses are suitable for someone. He provides actionable steps to list down all roles, responsibilities, and duties a person ha...
Mar 11, 2022•42 min
Watch on Youtube: https://youtu.be/OgzWAUmdYl8 Join my Email list at https://www.DavidCBarnettList.com Learn to buy a business at https://www.BusinessBuyerAdvantage.com Find more great content on my blog at https://www.DavidCBarnett.com An anonymous viewer wants to know when he can start his next business. I’ve met many serial entrepreneurs over the years. One who actually had started over a dozen businesses over 40 years! This week’s question is about what needs to happen in order for someone t...
Mar 09, 2022•10 min
Join that list: https://www.DavidCBarnettList.com Find books: https://www.amazon.com/shop/davidbarnett Buy a business https://www.BusinessBuyerAdvantage.com ----------------------------------------------- Jeremy, a lawyer, wants to know if it makes sense to offer payment plans to customers. As far as I’m concerned, payment terms are a part of the price. Price is one of the 4Ps of marketing. So, the real question is… What am I selling and who does it appeal to and what is that person’s financial ...
Mar 02, 2022•15 min
Learn to organize a business https://www.EasySmallBizSystems.com Learn to buy one: https://www.BusinessBuyerAdvantage.com Learn to sell a biz https://www.HowToSellMyOwnBusiness.com Learn more and join my list: https://www.DavidCBarnett.com related article: Ruben R. wants to know how long sellers should stick around and if they should be paid. Ha Ha.. It Depends! Yes, but on what? The level of specific skills and the level of organization in the business. Let me tell you a few ways to think about...
Feb 23, 2022•14 min
I've asked 30-year veteran of business strategic advisory, Michael Gansl, to come join me in this discussion about what business help looks like and who/how/where it can help someone. Michael is known as The Seasoned Voice of Reason who works to 'turn business owners into CEOs.' Michael has grown and exited his own business which reached sales of $18M and had 75 employees across many locations. Michael has worked as an advisor to many companies and has had careers in investment and commercial ba...
Feb 22, 2022•47 min
The original Deal Quest show notes... ------------------------------------- David Barnett is a businessman who has learned the ropes the hard way, hands on! He's been through several types of deal-driven growth in his career, not only deals of his own but also by managing deals as a broker for clients. He attributes most of his success to the lessons he's learned along the way. If you're looking for some business advice from someone who has "been there, done that," look no further than David. Af...
Feb 18, 2022•53 min
Learn more and join my list at https://www.DavidCBarnettList.com See all those reviews: https://www.clarity.fm/davidbarnett/reviews Learn to buy a business at https://www.BusinessBuyerAdvantage.com related article... TSP wants the raw truth about why I make videos instead of buying/selling businesses. I’ve been waiting YEARS for someone to ask this. Thank you. What is David’s business exactly? That’s important because the rest of this depends on where I want the customers to go and who I want to...
Feb 16, 2022•28 min
Vikram Rajan had me on his show to discuss the value of podcasting or YouTubbing to growing a business. We get 'behind the curtain' and discuss some of my experience in using this media to grow a business. Find Vik and learn more at www.videosocials.net
Feb 11, 2022•44 min
https://www.HowToSellMyOwnBusiness.com https://www.DavidCBarnett.com https://www.DavidCBarnettList.com Ted's video on Best CIM's out there: https://youtu.be/FGma2GyKlvE related article: Hassan is tired of DIY business owners, how can he get hired more often? Great question. Why would someone pay a person if they didn’t believe they needed to? It’s all about delivering value and communicating that value. And, not just to anyone, it’s got to be someone you really can help. A lot of brokers don’t g...
Feb 09, 2022•18 min
Learn to implement systems into any business: https://www.EasySmallBizSystems.com What if information about how to sell a business isn't what keeps owners from exiting successfully? What if the problem is the vision or intention to actually pull it off? Can people be so caught up in the 'doing' that they fail to see how things will be different one day? We're going to explore this and more and you're invited to come and join live to give your comments and ask questions. Special guests Exit prep ...
Feb 07, 2022•54 min
Youtube viewer Canucklehead wants to know which number to multiply and when. Great question. One of the biggest problems in business valuation is when people confuse valuation factors. Apply a 3X EBITDA factor to SDE and you’ll overpay for the business. But are these hard and fast rules… or just guidelines? In this week’s video, I discuss when the different cash flow levels made sense and why, in the end, you need to be thinking beyond just math. Watch this week’s video here: https://youtu.be/Va...
Feb 02, 2022•17 min
Learn to buy a business https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.clarity.fm/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com -----Related Article Below--- Victor wants to know how to avoid the ‘get rich quick’ mentality that is so often advertised. Firstly though, I’m going to tell you about the ‘get rich quick’ scheme that I bought into and how I quadrupled my investment in under a year. That’s not a joke. It’s ...
Jan 26, 2022•20 min
Kim invited me on her franchise show even though I wrote a book called Franchise Warnings! It was a lot of fun. Here are her original notes: Can you SELL your franchise business? Of course! You can sell a franchise just like you can sell a startup business. Here's HOW and WHY you must create an exit strategy. 👉 Email me now for FREE Coaching: https://bit.ly/3qqA6td 👉 Subscribe to KimDaly.tv: https://bit.ly/2YCDc1N 👉 Hear what my candidates say: https://bit.ly/3C7fRTi Follow The Daly Coach on ...
Jan 21, 2022•28 min
